File size: 152 KB | Type: pdf | Resources. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. It is probably wise to instruct a Solicitor who is local to you as your Solicitor will need to meet with you face to face during the transaction. The Equity Release Council certificate will clearly state the main cost to the householder’s assets and estate. How much equity can I release? … They will need to advise you on all of the … Each rule is accompanied by a set of guidance or activities which will help a member firm demonstrate compliance with the rules. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. SHIP (Safe Home Income Plans), today announces clarification of their safeguards to the equity release sector through a change to the SHIP certificate.Alongside the existing protection provided by the certificate, solicitors working on an equity release case must now sign a clause asserting their independence from the lender and the financial adviser, confirming that they have received nor offered any financial remuneration to the adviser or intermediary from the transaction. Our Equity Release specialist brokers are fully qualified and have completed the Certificate in Regulated Equity Release … The new exams take effect in January 2020. Tapping into the … It will be part of a series of thirty-minute webinars for advisers, which the lifetime mortgage provider will be running from Monday 23 November for two weeks. 6. If everything is good with you, your adviser will … It is a key criterion for those Equity Release providers who are members of the Equity Release Council that both they and the customer have separate legal representation. The Equity Release Council is a self-regulated non-profit organisation that safeguards the interests of homeowners and specialises in all things equity release-related. All Equity Release Council plans carry a no negative equity guarantee. For free initial advice call: 01202 416856 or 07862 708429 . Solicitors work on both sides of an equity release contract and consumers and providers must each have their own legal representation. ©2020 Equity Release Council. What safeguards does the Equity Release Council offer? or email: julia@equity-release.property × Home Page Equity Release Explained. His qualifications include Cert CII (MP) a CII Mortgage Professional; LIBF Adv CeMAP the Advanced Certificate Mortgage Advice & Practice and LIBF CeRER the Certificate in Regulated Equity Release. NOTE "Premier Equity Release Club" does not offer financial conduct regulated advice. The SHIP certificate already clearly states the main cost to the householder’s assets and estate.A SHIP equity release plan cannot proceed without a signed certificate. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. The Equity Release Council’s Donna Bathgate and David Burrowes want qualifications to be changed so advisers have a broader view of later life lending options. It was initially recognised as Safe Home Income Plans, or SHIP until it was re-launched in 2012 and broadened its reach from equity release providers to financial advisers. All members are required to be aware of and comply with the full set of rules. This amendment is subject to an ongoing review and the Equity Release Council will notify its members and the wider sector of any changes. Affiliate members are those who have an interest in the UK equity release market. Below you will find several resources including a video, a process chart, guidance notes and solicitors certificates to support the amendment. Michael Usher Mortgage Services Ltd is an appointed representative of HL Partnership … To maintain these high standards in equity release advice I am a member of the Equity Release Council and I am … In 2019 the London Institute of Banking & Finance invited me to become an ‘Item Reviewer’ for the Certificate Regulated in Equity Release (CeRER®), which involves periodically reviewing the question bank for candidates. The Equity Release Council’s code of practice ensures that all member companies provide a full and easy to understand presentation of their plans. The Equity Release Council certificate will clearly state the main cost to the householder’s assets and estate e.g. Bower uses an independent review service with an unsurpassed reputation for delivering genuine customer feedback. All members in the associates category have an interest in the equity release market and some are direct contributors to the sales and advice process. Reviews. » Make sure you are … The following is a set of Rules & Standards which apply to all Equity Release Council Members. The Equity Release Council certificate will clearly state the main cost the householder’s assets and estate e.g. Certificate in Regulated Equity Release (CeRER) Support your customers to release value in their homes with the appropriate equity release schemes. We are the industry body for the UK equity release sector; representing the providers, qualified financial advisers, solicitors, intermediaries. It was initially recognised as Safe Home Income Plans, or SHIP until it was re-launched in 2012 and broadened its reach from equity release providers to financial advisers. Customers taking out equity release from a SHIP member can be sure that they are taking on a regulated equity release plan from a reputable provider.”, Mortgage Introducer has published an article following the Council's appointment…, Summary Average rates for equity release products reached record lows…, The Equity Release Council (the Council) has broadened its industry…, Equity Release Council Proportion of over-55s worried about running out of money in retirement increases to over a third (34%) over the last... Advisers are central to the process of considering, evaluating and entering into an equity release contract and their advice is a requirement of the Financial Conduct Authority. All our Advisers are qualified in both CeMAP (Certificate in Mortgage Advice and Practice) and CeRER (Certificate in Regulated Equity Release), and so, fully compliant with the Financial Conduct Authority’s regulatory requirement to advise on Equity Release plans. That’s according to a report from the Equity Release Council published in the last week of October. Download. MOVING HOUSE. 6. Why choose Bread and Butter Advice? That figure amounts to an average of £11 million each day over the summer months – an increase from £911m in Q2 of 2019 to £988m in Q3. This means customers will never owe more than the value of their home and no debt will ever be left to the estate. Request a Callback 0800 411 8668. 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